The women were rescued from a rented house in Kharavel Nagar area of the city. Of the five women, three were from Thailand, said Deputy Commissioner of Police (DCP) Satyabrata Bhoi.
The police raided the house following a tip-off. Two men were arrested from the spa.
Police officers posing as customers had first reached the spa and after collecting concrete information about the sex racket, conducted the raid, a police officer involved in the raid said.